A popular cryptocurrency analyst says he is closely following the Ethereum-based altcoin project, which, according to him, is experiencing parabolic growth. He also quotes his comments for several altcoins. Here are the details…
Comments on 3 altcoins from Altcoin Sherpa
Altcoin Sherpa warns its 174,000 Twitter followers that selling the Cyber Network (KNC) as it trades near record highs is not a good idea right now. Noting that KNC looks parabolic, “price discovery is not always predictable. However, it will also eventually become a great short position. I prefer to wait until I’m broken first,” he says. At the time of writing, KNC is changing hands for $4.83.
Another token on the list of traders is ApeCoin (APE), an altcoin created for the NFT Bored Ape Yacht Club community. Altcoin Sherpa predicts that APE will reach record highs, stating: “APE: It will probably break historical highs given the general land sell-off, but I think it will also become a news sell-off soon. The whole upcoming area is [technically] dangerous, but I think [the fundamentals] are more important right now.”
Analyst: AVAX will grow, LOOKS will fall
The next in the list of analysts is the Avalanche (AVAX) smart contract platform, which, according to Somanews, is considered as a competitor to Ethereum (ETH). According to the altcoin Sherpa, AVAX is still optimistic on higher timeframes, despite the sharp correction in recent weeks. The analyst said: “AVAX: For me it is still in the range, but technically it also demonstrates the bullish structure of the market while it remains at this low. I think everything is going well as long as BTC holds up.”
The last coin on the radar of the Sherpa altcoins is the NFT LookRare (LOOKS) trading platform. According to the analyst, LOOKS is at risk of falling by 16%, as it is currently trading below the support at $1.68. “VIEW: If this area fails, I think it will fall below $1.30,” the analyst says. At the time of writing, LOOKS is trading at $1.66.